December 28, 2023 | New York Law Journal
Lender Standing: Ending the Staple/Paperclip DivideA discussion of "Broome Lender LLC v. Empire Broome LLC," a recent decision by the Appellate Division, First Department regarding the proof that a foreclosing lender needs to establish standing following an assignment of the loan.
By Justin J. Santolli, Shira Sandler and Freddy Levenson
7 minute read
December 04, 2020 | New York Law Journal
Preliminary Injunctions To Enjoin UCC Foreclosures Amid the PandemicAn analysis of decisions which reflect a marked change in how courts have addressed attempts to enjoin UCC foreclosures in connection with the COVID-19 pandemic.
By Janice Mac Avoy, Matthew D. Parrott, Justin J. Santolli and Shira Sandler
10 minute read
October 25, 2019 | New York Law Journal
Sixth Circuit Creates Circuit Split Regarding Whether Discovery in Aid of Private Commercial Arbitration Is AvailableThe Sixth Circuit's decision likely portends an increase in applications pursuant to §1782 seeking discovery in private foreign commercial arbitrations and raises the prospect of the Supreme Court having to resolve the circuit split.
By Justin J. Santolli and R. David Gallo
8 minute read
July 11, 2019 | New York Law Journal
Attempt to Unwind a Completed UCC Foreclosure Sale RejectedOn June 6, the Appellate Division, First Department issued 'Atlas MF Mezzanine Borrower v. Macquarie Texas Loan Holder' that will reassure the real estate lending community of the finality of foreclosure sales pursuant to the Uniform Commercial Code.
By Janice Mac Avoy, Matthew D. Parrott and Justin J. Santolli
10 minute read
November 26, 2018 | New York Law Journal
New York Court Finds Lender Has No Security Interest in FAR BonusThe New York County Supreme Court's decision in 'CB Frontier v. Wilmington Trust, N.A.' to grant summary judgment holding that the floor area ratio bonus was not collateral under the mortgage surprised many in the commercial real estate community. While the decision has been appealed to the Appellate Division, the current decision raises areas of concern for lenders, and could lead borrowers (and lenders) to more closely scrutinize their existing loan documents to see if they will support a claim that a FAR bonus is not collateral under the mortgage.
By Janice Mac Avoy and Justin J. Santolli
8 minute read
November 02, 2018 | New York Law Journal
Third Circuit Creates Split Regarding Domestic Injury Requirement for a Civil RICO ClaimThe Third Circuit's recent decision serves to underscore that the law regarding the domestic injury requirement is still evolving and needs to be carefully monitored by those involved with or considering bringing RICO claims.
By Justin J. Santolli
8 minute read
September 25, 2018 | New York Law Journal
Third Circuit Permits Removal to Federal Court by Unserved Resident DefendantBased on the Third Circuit's decision in Encompass Insurance, it is entirely proper for defendants to electronically monitor state-court dockets to identify new lawsuits, and to preemptively remove diverse cases to federal court before the plaintiffs can serve in-state defendants whose presence would otherwise preclude removal under §1441(b)(2) in state court cases filed in Delaware, New Jersey, Pennsylvania and the Virgin Islands.
By Justin J. Santolli
8 minute read
August 13, 2018 | New York Law Journal
Expanding Morrison: The Ninth Circuit Holds that the Exchange Act Can Cover Domestic-Issued ADRsToshiba's nexus to the United States, in this case, was through ADRs that the class members purchased, which traded in the OTC market.
By Justin J. Santolli and Andrew B. Cashmore
9 minute read
June 27, 2018 | New York Law Journal
RICO's Domestic Injury Requirement, Two Years LaterIn the last two years, the Second and Seventh circuits have addressed RJR Nabisco's domestic injury requirement.
By Justin J. Santolli
10 minute read
Trending Stories